Bitmine Immersion (NYSE:BMNR) bought 76,881 Ethereum (CRYPTO: ETH) last week, bringing total holdings to 5.62 million ETH as BMNR jumped 6% in pre-market Monday.

Buying Pace Stays Elevated As Bitmine Closes In On 5% ETH Supply Goal

Bitmine now holds 4.66% of Ethereum’s total supply of 120.7 million coins, putting the company 93% of the way to its stated goal of owning 5%. 

Chairman Tom Lee said the company is maintaining an elevated buying pace because the ETH price pullback does not reflect strengthening Ethereum fundamentals.

“We believe we are in the early stages of crypto spring,” Lee stated. “Bitmine is expected to reach the alchemy of 5% sometime in 2026,” he added. 

Total crypto, cash, marketable securities, and moonshot holdings now stand at $10.4 billion, including a $180 million stake in Beast Industries and an $88 million stake in Eightco Holdings (NASDAQ:ORBS).

BMNP Preferred Stock Begins Trading Tuesday With Weekly Dividends

Bitmine closed its Series A Preferred Stock offering on June 10, raising $273.8 million net after selling 3.5 million shares at $80 per share. 

The stock carries a 9.5% annual dividend paid weekly and begins trading on the NYSE under ticker BMNP on Tuesday.

Lee pointed to Bitmine’s $219 million in annualized projected staking rewards as the cash flow backing the preferred dividends. 

Bitmine currently stakes 4,718,677 ETH worth $8.1 billion through its MAVAN institutional staking platform, generating a 2.79% seven-day annualized yield and projecting $226 million in annual staking revenue.

Moreover, Fortune included Bitmine in its 2026 Crypto 100 list on June 11, ranking the company among the most influential firms in blockchain.

BMNR Pre-Market Recovery Mirrors February Bull Divergence Setup

BMNR closed down 2.48% to $16.11 last week before recovering 6% in pre-market to $17.25, sitting directly on the $16 to $17 demand zone that has held as a floor since February. 

RSI at 37.53 approaches oversold territory, mirroring the setup that launched a recovery from this zone in February.

Reclaiming the 20 EMA at $17.96 targets $19.72 then $22.34. Losing the $16 demand zone floor on a daily close opens air toward $14.

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